Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : IACI Boom or Bust? -- Ignore unavailable to you. Want to Upgrade?

To: Glenn Petersen who wrote (20)	5/4/2004 6:11:03 PM
From: anandnvi	Respond to of 60

CSFB Likes IACI Quarter-Positive GMgn Surprise is 320bp (IACI) Reit Outperform InterActiveCorp reported results for the March quarter. Revenue in the quarter was $1,471M, above our $1,414M forecast and consensus of $1,436M. The strength in the quarter came from the travel business, with gross bookings up 51% and international bookings up 108%. Adjusted EPS for Q1 were $0.18, beating our estimate of $0.15 and consensus of $0.16. Free cash flow in the quarter was $556M or $0.72/share. Gross margins of 52.6% were well above the 49.4% we forecast, and above the 43.3% posted in Q1`03. OIBA for the quarter was $198 million, above the $157 million we expected, though travel OIBA margins declined from 29.5% y/y to 25.8%. According to management, margins in the merchant hotel business declined 70bp y/y, less than the 100bp decline they have guided to for the full year. --------- Got that from a IHub post.